poll failed for delete info lines
Threading does not go well with context. Instead use modal timer operator.

def delete_info():
    for window in bpy.context.window_manager.windows:
        screen = window.screen
        for area in screen.areas:
            if area.type == 'INFO':
                info = area

    context = bpy.context
    c = context.copy()
    c["area"] = info

    # # test call
    bpy.ops.info.select_all_toggle(c)
    bpy.ops.info.report_delete(c)

class LoggingTimer(bpy.types.Operator):
    """Tooltip"""
    bl_idname = "myops.logging_timer"
    bl_label = "OPERATOR_LABEL"

    _timer = None

    def modal(self, context, event):



        if event.type == 'TIMER':
            delete_info()


        return {'PASS_THROUGH'}

    def execute(self, context):
        wm = context.window_manager
        self._timer = wm.event_timer_add(300, context.window)
        wm.modal_handler_add(self)
        return {'RUNNING_MODAL'}

    def cancel(self, context):
        wm = context.window_manager
        wm.event_timer_remove(self._timer)

def register():
    bpy.utils.register_class(LoggingTimer)

def unregister():
    bpy.utils.unregister_class(LoggingTimer)

if __name__ == "__main__":
    register()